Feb 4th GSE requirements

[alebrewer]

Yes and I am confirming that I did filter......and still got meaningless results.

I posted this a bit earlier - it matches up well with the models I built in r. I did use the 'linear' option, though.

 

[Digger88]

Looks like there isn't a big enough data set for it to work well. Does it factor in GLA, condition, etc?

It's garbage tbh as it's a slave to realtor manipulation when they insert their listings. Sometimes they manipulate GLA so you have to manually rule them out when they include basement finish among others. The time adjustments these programs come up with are hilariously wrong. Maybe with model match condos it would be ok still the adjustments it renders even with perfect data is silly form my experience and I've done a fair amount already.

 

[Digger88]

using a fairly homogeneous data set of some ~ 45 observations, I get the below from TEEBA. Based on my experience in that market, its not too awful.

View attachment 97810

that actually looks relevant

 

[djd09]

Traditional appraisal
Appraiser collects the property data and completes the market analysis required for the appraisal. For complex property types or situations where data is sparse.

Valuation Modernization | Fannie Mae

singlefamily.fanniemae.com

experience is great when there is a lack of data...no more cookie cutters

 

[Anna Richardson]

Is this the monthly time adjustment BS?

The GSE's are mandating certain words to be used in our reports, creating drop downs for descriptions and for other fields. The list goes on. This will be for appraisals being completed for banks who will be forwarding the appraisals to them. A brand new 1004 is on the way with classes to learn how to fill them out. USPAP is not enamored with this at all. I don't understand how FNMA and FHLMC can get away with this. We are to only show advocacy to our work. This is not a good thing at all.

 

[Phlyguy]

The GSE's are mandating certain words to be used in our reports, creating drop downs for descriptions and for other fields. The list goes on. This will be for appraisals being completed for banks who will be forwarding the appraisals to them. A brand new 1004 is on the way with classes to learn how to fill them out. USPAP is not enamored with this at all. I don't understand how FNMA and FHLMC can get away with this. We are to only show advocacy to our work. This is not a good thing at all.

I think of the 10s of thousands of dollars I’ve paid to the Appraisal Institute over the years, boy was I naive thinking some of that money actually went to lobbying efforts.

I saw a video with some GSE higher-ups and they were talking about how when they were developing the new form FHA had a seat at the table, this entity over here had insight, even FEMA certainly had insight with the measuring the height of the front door now being an absurd requirement.
If the Appraisal Institute had fought to get a seat at that table we would have heard about it.

 

[Surf Cat]

You've got to know when to hold em, know when to fold them, know when to walk away.... know when to run.....

 

[DWiley]

If the Appraisal Institute had fought to get a seat at that table we would have heard about it.

The UAD Advisory Group has representatives from a broad spectrum, including the Institute. Perhaps you never heard of them "fighting for a seat" because there was no fight

 

[alebrewer]

Perhaps you never heard of them "fighting for a seat" because there was no fight

Haha. That could be taken a couple of different ways...

 

[DWiley]

Haha. That could be taken a couple of different ways...

LOL. I was actually on the UAD Advisory Committee myself before I changed jobs. The AI was there from Day 1. It would be silly not to have them there.